Mizrahi-Tefahot raises USD1.45b bonds
Mizrahi-Tefahot Bank Ltd. completed two private international bond offerings raising USD 1.45 billion, strengthening its capital base and senior funding profile. The transactions comprised USD 750 million of Tier 2 subordinated notes and USD 700 million of senior notes.
The bank, one of Israel’s largest financial institutions with global market access, placed both issuances with institutional investors in the international markets through offerings exempt from US registration requirements.
Chapman acted as US counsel to the indenture trustee, Reznik Paz Nevo Trusts Ltd., advising on the US law aspects of both offerings. The Chapman team was led by partner John Hitt, Co-Practice Group Leader of Chapman’s Asset Securitization Department.
Meitar served as Israeli legal counsel on the matter, with the team including partners Shachar Hadar, Yael Weiss, Matthew Rudolph, Dr. Michael Bricker, Shai Adelson, and Oren Eilat, and associates Adir Zrihen, Shahar Kedem, Maya Zamir, Yuval Teperberg, Roee Hasid, and Uri Etzioni (capital markets).
